The median balanced super fund has ended the volatile month of March with a slight gain, adding 0.3 per cent.
Over the first quarter of the 2011 calendar year balanced funds ended 2.5 per cent higher, ranging from 1.7 per cent to as high as 3.3 per cent, according to data from SuperRatings.
"Around mid-March it looked as though the median balanced fund would end the month well in the red, temporarily halting the recovery in members' super account balances towards pre-GFC highs," the research firm said.
"However, global markets regained their composure as concerns over Japan's nuclear catastrophe and aftermath abated."
"As a result investors refocused their attention on underlying market fundamentals and solid corporate earnings and balance sheets, globally," SuperRatings said.
The first quarter gain was the third consecutive quarterly rise since a negative 3.85 per cent return in the 2010 June quarter.
"March quarter results further boost the likelihood of a double-digit return for the 2010/2011 financial year, which quickly approaches," SuperRatings said.
But the firm warned returns will remain volatile for some time and members in balanced funds should expect fluctuating returns from month to month as a result of large exposure to equities.
Yet, Australian equities were the largest driver behind the recovery in super fund returns during the month, with the median Australian share option gaining 0.7 per cent.
